Facor Alloys Limited has announced the resignation of Mr. Gaurav Vinod Saraf from his position as Non-Executive Non-Independent Director, effective January 13, 2026. The company informed BSE Limited about this board change in compliance with SEBI Listing Regulations.

Resignation Details

Mr. Gaurav Vinod Saraf, holding Director Identification Number (DIN) 00197231, submitted his resignation letter on January 13, 2026, requesting immediate cessation from his directorial position. The resignation was communicated to the company's Chairman at the registered office in Shreeramnagar, Vizianagaram district, Andhra Pradesh.

Reasons for Resignation

In his resignation letter, Mr. Saraf cited pre-occupation and other professional commitments as the primary reasons for stepping down from his directorial role. He confirmed that no other material reasons contributed to his decision to resign from the board.

Regulatory Compliance

Facor Alloys Limited fulfilled its regulatory obligations by notifying BSE Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided comprehensive documentation including:

• Formal intimation letter to BSE
• Annexure containing required regulatory disclosures
• Copy of the original resignation letter from Mr. Saraf

Company Secretary and Compliance Officer Sachin Kumar Gupta (ACS 22874) signed the regulatory filing, ensuring proper compliance with listing requirements.

Acknowledgment

Mr. Saraf expressed appreciation for the cooperation, support, and guidance received from fellow board members during his tenure. He extended best wishes to Facor Alloys Limited for future endeavors, maintaining a positive tone despite his departure from the board.

Facor Alloys Limited , a prominent player in the alloy manufacturing sector, has reported a net loss of ₹67.04 crores for the quarter ended September 30, 2025. This financial update comes amidst ongoing challenges for the company, including the temporary shutdown of its plant operations.

Financial Performance

The company's Q2 FY26 results paint a picture of financial strain, albeit showing some improvement from the previous year:

The significant reduction in net loss compared to the same period last year suggests some level of cost management or extraordinary items affecting the bottom line. However, the company's operations remain severely impacted, as evidenced by the zero revenue from operations.

Operational Challenges

Facor Alloys has been grappling with operational issues since October 31, 2023, when its plant operations were temporarily shut down. This shutdown has resulted in nil revenue from operations for the current quarter, highlighting the severe impact on the company's core business activities.

Management Changes and Strategic Initiatives

In a bid to navigate through these challenging times, Facor Alloys underwent a management reshuffle in April 2024. The new management team, which took charge on April 5, 2024, is actively exploring various options to resume operations. These efforts include:

1. Engaging in dialogues with corporate houses
2. Seeking assistance from lenders
3. Infusion of funds by the promoter entity to meet ongoing expenses

Asset Sale and Shareholder Approval

In a significant move, Facor Alloys obtained shareholder approval through a postal ballot on July 10, 2025, for the sale of plant and machinery. This strategic decision has already yielded some results:

• The company received an advance of ₹13.31 crores from a potential purchaser.
• This advance, received in FY 2025-26, has not been recognized in the Statement of Profit and Loss for the current period, as it represents a preliminary transaction pending completion of the sale.

Audit Observations

The company's auditors, K.K. Mankeshwar & Co., have conducted a limited review of the standalone financial results. They have expressed an unmodified audit conclusion, indicating that the financial statements fairly represent the company's financial position in accordance with the applicable accounting standards.

Looking Ahead

As Facor Alloys continues to navigate through this challenging period, the focus remains on resuming plant operations and improving financial health. The company's ability to successfully implement its strategic initiatives, including potential asset sales and securing new partnerships or funding, will be crucial in determining its path to recovery.

Investors and stakeholders will be keenly watching the company's progress in the coming quarters, particularly any developments regarding the resumption of plant operations and the outcome of ongoing discussions with potential corporate partners and lenders.